Identify the right customers

As the nation slowly works its way up to full speed, it’s undeniable that the landscape has changed dramatically for every brand—especially when it comes to marketing and advertising. Many are looking for new ways to better connect with customers to meet their needs and encourage their continued patronage and loyalty, while others are attempting to reach out to a whole new audience who may not have known about them pre-pandemic. But even as brands are eager to get back to normal—whatever the new normal is—much like consumers, they’re faced with an uncertain future that may be affected by new financial restraints. For marketers looking to make a big impact on their bottom line, now is the time to consider pivoting advertising efforts to advanced TV (Connected TV/OTT and addressable TV). While traditionally cost prohibitive for many brands, the pandemic has greatly changed the availability of TV advertising. TV advertising is now more affordable than ever, opening up opportunities to brands who may not have had the ability to include it in their previous marketing plans. Whether it was due to the cancellation of live events or the delay of basketball season, or just general skittishness that’s keeping other brands from spending money on TV advertising, their pivot is to your benefit. There’s no question that consumers’ attitudes toward brands will have changed during the pandemic, which means they might need to be reminded of your brand and what it has to offer. There may be some who are seeing your brand for the first time, or for the first time in a long time. The good news is, people are watching TV now more than ever before. According to Experian’s Consumer Sentiment Index, television consumption is up 41% from mid-May to mid-June. Cable TV viewership has seen a 22% increase over the same period of time, showing that consumers are still connected to traditional TV viewership. Another reason why now is a great time to make advanced TV part of your marketing plan. While many states are still rolling out their re-opening plans, many consumers are still working from home, and the job landscape is still firming up. That means your customers will still be passing the time at home as the landscape continues to shift and change, and their attention will likely be directed toward their TVs. Plus, with consumer spending starting to rebound, you can benefit from this directed attention in a new medium. And consumers aren’t just watching TV on their televisions. Smartphone use is up 41% over last month, as is desktop/laptop use at 38%, and tablet use at 21%. And, when they’re not watching their favorite show on their phones, computers or tablets, they’re visiting advertiser websites and using apps more heavily. This means that brands can supplement their TV advertising with an omnichannel approach to ensure their consumer can connect with them through any device they’re using. All of this may sound intimidating to brands who haven’t previously advertised on TV or executed an omnichannel campaign, but rest assured that the power of data can help make the experience fairly seamless. A data-driven marketing strategy can help brands better understand their audience, including demographics, lifestyle, behavior and attitudes—as well as their preferred engagement channels. This helps ensure that your message resonates and is seen on the devices and channels your audience frequents most. With Experian’s 50+ years of experience with consumer data, you can rely on us to help you execute a data-driven advanced TV campaign that targets the right audience with your message. And we collaborate with all TV operators and have connections with many industry media partners, so you can choose exactly where you want your outreach to go. Find out more about how Experian’s Advanced TV capabilities can help you have more meaningful interactions with people: https://www.experian.com/marketing-services/television-advertising.

Retailers have always known that building a loyal customer base is the key to success. But whether they’d successfully done so or were still working towards their customer loyalty goals in Q1 of 2020, the global pandemic changed everything. With shoppers shifting purchasing habits almost solely online, retailers with an established online presence were able to navigate stay-at-home orders and other business restrictions. As of June 9, 2020, according to Experian’s Consumer Sentiment Index, half of Americans (47%) are buying more online than they did in the past. So those who previously relied on their brick and mortar business may have had difficulty staying afloat. Undeniably, the landscape has shifted dramatically, and it’s about to do so again as stay-at-home orders are lifted and retailers are being given the green light to re-open, albeit with guidelines and restrictions they’ve never faced before. With so many different messages that need to be shared, and the need to stand out among thousands of other retailers working to grab the attention of the same audience, mobile location data is an important tool in a retail marketer’s arsenal. For example, so much of the in-store experience moved online at the start of the pandemic. As a result, a lot of consumers have gotten comfortable with that format and may be apprehensive about the in-store experience, especially with all the changes required for re-opening. Using mobile location data, retailers can identify audiences that are more likely to return to in-store visits, and tailor messaging to address their questions and concerns to encourage their patronage. They can effectively communicate information surrounding the rules for in-store shopping, including face masks, social distancing, how they plan to protect their clientele, and more. If, after sharing their re-opening information, retailers find customers aren’t coming to them but are instead visiting competitors, mobile location data can help them determine consumer patterns based on competitor shopping to gain a greater understanding of why they’re shopping elsewhere. Using this information, retailers can adjust their outreach to better speak to their target customer and their needs, and encourage their visit with more relevant messaging. And of course, there will still be some customers who feel more comfortable continuing with online shopping. Mobile location data can also assist brands in identifying those audiences so that they can adjust their communications strategies and messages accordingly. Meanwhile, many retailers have shifted from a buy online pick up in store (BOPIS) model to buy online pick up at curbside (BOPAC), both for convenience and safety. As restrictions lift, some will soon be shifting back to BOPIS. Mobile location data can help you determine if this is a more preferred method of shopping by analyzing consumer behavior. If customers aren’t ready for an in-store visit but still have needs that could be met by a particular retailer, that brand can create messaging that supports their desire to do their shopping online and pick up their purchase—whether they come inside or opt for curbside pickup. The more retailers know about their customer’s habits, behaviors and interests, the more they can address their needs and concerns with personalized messaging that can make an impact. Additionally, because so much of life moved online during the pandemic, consumer data may be even more fragmented than before, with their attention spread across multiple devices and channels. Using mobile location data—in combination with demographic and psychographic data—retailers can learn more about consumer behavior, including stores visited, shopping preference insights, hobbies, and more. While the retail industry is facing incredible challenges in the wake of unprecedented change, the right data can help them bridge the gap between where they were, and where they want to be—especially when it comes to nurturing consumer connections. And as retail marketers work on new messaging that shares their unique plans for re-opening and emerging post-pandemic, how that communication is delivered, and who it’s delivered to, could make all the difference in a successful re-opening plan. Contact us today to find out how more about Experian’s retail marketing solutions. And be sure to check out our other retail blog posts as well.

Article written by Jill Canetta, Experian Marketing Services’ Chief Data Officer, and Mark Pryzbylski, Experian Automotive’s Senior Director of Product Management At this point, it’s indisputable that the COVID-19 pandemic has completely changed everything for everyone on a multitude of levels. And now that the country is moving toward easing stay-at-home restrictions and people are starting to venture out into the world, auto marketers are faced with unique challenges amid an uncertain future and customers who aren’t sure of the best step to take next in their ownership experience or potential vehicle purchase journey. However, that uncertainty provides an opportunity for brands to make deeper connections with current customers and interested consumers—provided they can understand and address their customer’s needs in a supportive way. You need to lead with empathetic messaging that directly addresses their needs and offers support during this challenging time. Data is the starting point, and Experian is ready to help. First, you need to understand what consumer outlook looks like on a national scale, in real time. Using insights gleaned from consumers across the country, Experian created a US Consumer Sentiment Index built on daily survey findings that outlines what customers are thinking and how they’re feeling during COVID-19. As of June 10th, 2020: 44% have automobile payments they need to make monthly, with Millennials and Gen X leading the pack at 50% 21% are considering buying a new vehicle within the next few months, with Millennials at the forefront of this drive at 16% Of those considering a new vehicle, 63% will continue with their purchase as planned, 42% will buy something less expensive, and 18% will consider leasing, with Gen Z leading the last two these categories Certainly, this data can help auto marketers glean the information they may need to begin targeted outreach, especially when sentiment shows there’s still a need and desire to own, lease or rent a vehicle. But this is only part of the picture. To create a complete view of the customer, marketers need to fill in the blanks so they can thoroughly address their needs and let them know they’re both ready to help, and capable of doing so. For example, due to the changing landscape, it’s unlikely that dealership walk-in traffic is going to present the same opportunities for purchase that it once did. This means marketers will have to leverage new avenues to execute their outreach. Using the power of data, auto marketers can identify those who are most likely to be in the market for a new vehicle, such as those coming to end of lease or those who are soon to be in equity on their current vehicles. But how can this information help you in your outreach efforts? Demographic, behavioral, life event, lifestyle, automotive and attitudinal data can help you tailor a compelling message to address their stage of ownership—and potentially address their new or emerging needs as a consumer. Perhaps their child is starting college in the fall and needs a vehicle. Or maybe they’ve downsized and don’t need an SUV anymore, so a compact car would better fit their needs. When it comes to leaseholders, data can show you which leases are coming up for renewal or termination. Regardless of their situation, leaseholders will need to decide on their future vehicle needs whether it means buying their car, leasing another, or going in an entirely new direction—one that may potentially be more cost effective to address the issues they may suddenly be facing. Beyond identifying your target audience, you need to understand how to reach them. We also offer the opportunity for multi-channel media activation, leveraging our relationships with more than 100 media partners and digital platforms to launch and optimize your one-to-one marketing campaign across all channels. And to help you determine the ROI of your offline and online campaigns, our measurement tools help you gain actionable insights for future campaigns with easily digestible dashboards and reports. As we all adjust to the new landscape and find different ways to navigate the current environment, marketers need to be cognizant of how they’re targeting new consumers—especially when the landscape appears to be unstable. By addressing consumers with relevant and thoughtful messaging that supports their needs, marketers now have the opportunity to create deeper connections that can create loyalty that lasts a lifetime. Learn more about how the Experian Marketing Engine for automotive marketers can help.  

The beginning of any new year brings an influx of gym goers who are committed to working on resolutions. Whether the goal is to work out or be healthier, gyms around the nation see a spike in numbers in the first few months of the new year. Experian examined foot traffic patterns for five gyms nationwide from January to June of 2019 to determine if there were significant trends. Unsurprisingly, there was a spike in visits in January, which correlates with the rise of advertising in the fitness industry during that time. We are all familiar with the ads telling us about the amazing discounts available at our nearest gyms, as well as the constant reminder that it’s a new year so it’s time to reinvent yourself – “New Year, New Me!” Even though the spike in visits in the first couple of months is exciting for businesses, research suggests that these trends won’t continue throughout the year, which means a loss of revenue over the latter half of the year. A loss of revenue is never good, so as a marketer, how can you better understand your new clients and target them when they might be inclined to throw in the towel? Taking a second look at the graph above, you see a spike in visits in late March and early April, before a big drop off in May. We were curious to see what was causing this spike, so we took a deeper dive into the data, looking at both age and gender. What we found was that from January to early March, there was a steady decline in visits, whereas in late March to early April, there was about a 7% rise in visits across the board. What was more interesting than the spike in visits, was the significant drop after the first week of April. We saw a significant 13% drop in visits on average in both males and females of all ages. On the higher end of the spectrum were both males and females between the ages of 19-34 with a 14%-15% drop in visits. While we can speculate on why there was such a drop at this time – right after spring break, etc. – gathering more data about these individuals is essential to building an effective marketing plan to combat this degradation. As a marketing professional in the fitness industry, or someone looking to target a health-conscious demographic, you need to understand your audience – both their visit patterns, as well as their likes and dislikes. Using Experian’s data, you can take a deeper dive to understand your members eating habits. For instance, you can better understand if your clients like to visit health-conscious dining establishments or do they frequent QSR locations like McDonalds. It may seem like common sense, but a successful marketing campaign is rooted in relevant messaging and relevancy is rooted in the ability to understand the target audience. While the goal is to bring new members into your gym or health club in January, the challenge is to keep those new members coming throughout the year, and that’s where there is an opportunity for marketers to better connect with these customers. If you know that people under the age of 34 are at the biggest risk of halting their visits to your fitness location in the middle of April, then you can take the next steps to better understand that demographic so you can activate an effective marketing campaign tailored to their needs before you lose their memberships. The key is to understand who these fitness resolution members are and find a way to target them before their commitment waivers. What works for one location may differ from another, so you have to include other data points in to build a more holistic view of your target audience. At the end of the day, understanding your members is key. Partnering with Experian to take a deeper dive into your members likes and dislikes, as well as their visit patterns can allow fitness locations to have the data and the tools at hand to make the right marketing decisions and deliver an effective marketing campaign, ultimately reducing the membership attrition rate.

What generation already has 68 million consumers, is set to be the largest generation ever, and $360 billion of disposable income? While you may think these attributes describe millennials, they are actually a portrait of Generation Z, better known as Gen Z, the newest generation that is emerging in the marketplace. Gen Z is beginning to make an impact worthy of focusing your next auto marketing campaign around.  Gen Z and the automotive market  Made up of consumers born after 1996, Gen Z is ready to be noticed and become a force to be reckoned with in the market. In the automotive market alone, Gen Z made up 3.8 percent of all new vehicle registrations in the first quarter of 2019. While that number may seem small, consider the fact that in 2015—just four years ago—they only made up 0.5 percent of new vehicle registrations. These are statistics that should make automotive marketers pay attention.  Digital consumption of Gen Z   Most marketers tend to lump Gen Z with millennials – after all, they grew up with smartphones and social media, so how different can they be than the generation that came of age with the Internet? However, unlike millennials, Gen Z is considered a true “digital generation” – performing many of life’s day-to-day activities online. This means that they do a lot of research when shopping for a product. In fact, according to the Center for Generational Kinetics, 52 percent of Gen Z has looked at online reviews for a product while shopping in-store.  But how do digitally native consumers impact automotive marketers? In order to sell cars, marketers’ messages need to be relevant. Like many other generations, Gen Z interacts with brands across a number of different devices and touchpoints. They’re constantly bombarded with messages and advertisements, so much so that it becomes information overload.  Auto marketing to Gen Z To create consistent messages that resonate, brands need to communicate across these different touchpoints and tell a story that is relevant to your audience. For example, you wouldn’t show an advertisement of someone buying their dream sports car to a member of Gen Z. Most of these consumers are buying their first car, so it would typically make more sense to show them ads for economical, reliable, sedans or cross-over SUVs.  Historically, automotive marketers have relied exclusively on CRM data, but this strategy isn’t effective when it comes to Gen Z, the fact of the matter is that they probably haven’t purchased a car from you previously.  Identity resolution and Gen Z auto marketing  The recipe for marketing success with Gen Z is identity resolution – combining your first-party identity signals across channels with third-party resources, as well as advanced technology, such as machine learning and artificial intelligence, to truly create and deliver campaigns that are relevant to the youngest generation. The more knowledge marketers have on your audience, such as demographics, life events and purchase behavior, enables them to tailor the messages to the audience in a way that will cut through the noise and resonate.  As more members of Gen Z come into the marketplace, automotive marketers will want to ensure they’re meeting them where they are, delivering messages that matter to them. This will help marketers not only sell more cars, but also begin to create relationships that could last for years to come.   Your identity resolution partner  Experian is here to help you create an identity resolution strategy that will take your automotive marketing campaigns to the next level. We help brands put real people at the center of their business by resolving fragmented identity signals. Deliver personalized, relevant messages across channels to effectively target your ideal customers. Get started with identity resolution today!

For as long as the ad buying process has existed, most brands and agencies have put an emphasis on the channel – meaning there were specific campaigns for direct mail, email, TV, social media, banner ads, etc. In fact, the teams responsible for these campaigns often work in silos. But with more people consuming information through multiple channels, it’s important for brands and agencies to put the customer at the center of the ad buying process – to develop and implement true omnichannel campaigns. I recently wrote a byline article for Broadcasting & Cable that explored the concept of the “PeopleFronts.” While the Upfronts and Newfronts have dominated the ad buying world, brands and agencies need place larger emphasis on the customer. At the end of the day, the right mindset can open the door for more powerful campaigns and relevant messages that resonate with the consumer.

As summer fades, marketers are gearing up for another campaign cycle. It’s a process that repeats itself annually, but we can’t just copy-and-paste our plans. With each passing year, the media landscape changes drastically, as do the behaviors of the audiences we are trying to reach. As ever, marketers have to be strategic—and nimble—to reach the right customers at the right time, with messaging central to seasonal events and personal preferences. Marketers can ensure their messaging reaches the right customers with audience optimization.  Reach target audiences this season  It can be a hassle to create custom audience segments and bespoke creative messaging every time the seasons change, but now, more than ever, we must ensure brand campaigns are as timely, relevant and personalized as possible. In a world of multitasking and multiscreening, there’s an expectation among consumers that all communications they receive are relevant to them—especially from brands.  This is why it’s critical to understand your audiences and how to engage them through the most effective channels.  To help marketers win the battle for consumer attention—and sales—4C developed the Scope platform. This self-serve software arms brands with powerful tools for managing audiences and optimizing campaigns across channels including TV and digital. So, whether it’s building an efficient media plan, buying targeted ads, or measuring business outcomes, audience optimization is truly in scope.  Deliver audience-based marketing messages across the TV and video space   Recently, 4C teamed up with Experian to expand our audience marketplace across linear TV, OTT and social media. Brands using the Scope by 4C™ platform can leverage Experian data across a variety of planning and buying use cases, including audience-based linear TV planning and programmatic scatter buying; OTT campaigns across FreeWheel, Telaria, and SpotX; and social advertising on Facebook, Twitter, and Pinterest.  Scope’s TV Planner allows marketers to combine historical cost and ad occurrence data with Experian audiences to create customized TV plans in minutes. The outputs go beyond GRPs to maximize in-target impressions for a secondary audience as well as indexing high against the primary demo. With audience-based TV planning brands can truly maximize their upfront buys and use the fantastic reach of linear television for seasonal performance marketing, not just brand awareness.  OTT harnesses the big-screen, living-room impact of TV with the targeting precision and flexibility of digital. By using Experian segments to create OTT audiences in Scope, brands can really focus on creative strategy, using the immersive power of video to drive specific business outcomes.  From a social perspective, we can combine the pinpoint targeting marketers have come to rely on from platforms like Facebook with advanced segmentation enabled by Experian. The output is high-performing audiences that can be reached at scale with dynamic creative to achieve unparalleled ROI.    Focus marketing strategies on audience optimization this season   Leveraging customized audiences across channels is the modern approach to marketing and has completely shifted the way marketers target consumers. With the relationship between 4C and Experian, there is now a better way for marketers to identify the most valuable potential customers, uncover the most appropriate messaging, and execute campaigns across the most engaging channels – during peak seasonal campaigns and every single day.  Get started and contact us today!     

For decades, financial institutions relied on direct mail marketing and mass media for credit card offers and invitations to apply (ITA) for loans. Today however, credit marketing is going digital. In fact, according to Statista, financial services ranks 3rd in total digital ad spend this year. Lenders need to deliver relevant credit offers to consumers in the spaces and platforms where they interact. Below are three best practices to help financial services marketers make the most of their digital budgets and strategies. 1. Test new acquisition channels Consumers are no longer just in one place. They are constantly moving around and business strategies need to encompass that. Today’s consumers have multiple devices – a mobile phone, a TV, a laptop, a smartwatch, etc. and each of these devices uses a different tactic to attract consumers. Marketers need to reach their audience across all the channels with which they are engaging. To maximize performance and profitability, lenders need to leverage multiple channels to target and re-target their intended audience. They need to expand the reach of tailored prescreen ad campaigns by adding email, digital display ads, or other online channels to the traditional direct mail channel. This will help increase response rates, decrease length of time to conversation, and provide insight on consumer behaviors and preferences that cannot be achieved with a direct mail offer alone. 2. Target an audience that is right for you. Through a streamlined credit criteria selection process, and Experian’s expertise in audience creation, you now have the power to target the best consumers for your business needs in a fully customized approach. Financial services marketers should isolate appropriate populations – enabling you to make unique offers for different consumer segments and target them in the channels they leverage. In addition, you need to ensure your data is accurate and compliant. Fresh, accurate data enables you to pre-select the best prospects for your business need—right when they are most motivated to respond—and avoid making preapproved offers to nonqualified consumers. Also critical is that while we are able to use regulated data sets to reach consumers, we need to do so with extra caution while meeting FCRA guidelines. It is imperative to honor consumer opt-outs across all channels and ensure you have audit rights with media publishers. The Experian Ascend Technology Platform gives financial institutions the power to integrate client data, industry-specific data feeds and the power of Experian’s unique capabilities in data, analytics, machine learning and advanced AI  to deliver enhanced opportunities throughout the customer lifecycle, including lending offers to acquire new customers and cross-sell to existing ones. 3. Test and adjust your campaigns Before the world of digital, it was difficult for financial institutions to track campaign impact on audiences. By employing online promotions, lenders can see how much interaction consumers are having with their promotional media. Financial services marketers should take processes and campaigns that have worked in the past and perform small, iterative tests using different channels. We believe that by adding a digital touch to a client's direct mail prescreen campaign, there is the potential to experience a lift above direct mail response rates; decreased length of time to conversion, and we can provide insight on consumer behaviors and preferences that cannot be achieved with a direct mail offer alone.  It is important to test and optimize accordingly.   Experian is also at the forefront of the digital credit revolution with Amplified Prospecting™. Experian’s Amplified Prospecting empowers lenders to deliver relevant firm offers of credit to prescreened consumers via multiple digital channels, including email, online display advertising and social media. Simply put, it allows you to timely engage the most desirable consumers where they’re increasingly consuming information and media today – improving your response rates and return on marketing investment.   Experian is a leader in the credit revolution, offering more ways for consumers to secure credit including the industry-first Text for Credit™, which allows users to initiate and complete the credit application process within minutes with a simple text message. In addition, Experian recently introduced Experian Boost, a revolutionary new online tool that can instantly improve your credit scores and help the 100 million Americans that don't have access to credit today, either because their credit scores are too low, or because they don't have enough credit history.   With faster, more efficient data integration and processing you can more accurately target leads, achieve better response rates, and optimize your marketing spend.   To learn more about Experian’s Financial Services solutions, contact us at (877) 902-4849 or experianmarketingsolutions@experian.com to learn more!        

  The concept of identity resolution has emerged over the years as a strategic imperative among marketers and technology vendors. A report by Forrester contends that accurately establishing and maintaining customer identity is one of the most perplexing challenges facing marketers today. Customers have footprints in the offline and online worlds and tend to seamlessly transition across various channels and devices – presenting a unique challenge to truly understand who they are. But the ability to stitch these disparate components of information together means marketers can make better decisions and have more meaningful interactions with their customers. And for customers, this means an experience with personalized advertising content more likely to resonate with them.    Why should marketers prioritize identity?  The ability to accurately identify customers is the most basic prerequisite for marketing analytics, orchestration and execution. As such, it is becoming increasingly important for brands and marketers planning to link together disparate systems of audience insights and engagement to foster a more seamless and personalized omnichannel customer experience. For example, if an advertiser can identify a customer’s interests, as well as how that person prefers to consume information, then the advertiser can create and deliver messaging that will resonate with the customer. However, like most competitive differentiators, the mission critical components to accurately determine an identity reside within the suite of identity management tools at the marketers’ disposal and the expertise required for proper execution – a struggle for most marketers. But when properly implemented, a comprehensive customer identity strategy can be among a brand or marketer’s most valuable and proprietary assets.    Where to begin with identity resolution?   With the convergence of CRM platform data, cross-channel online touchpoints, offline record linkage management, probabilistic cross-device graphs, and data onboarding—evolving from point solutions to unified platforms—marketers are faced with an increasingly complex set of challenges in addressing and solving for customer identity management. To properly implement from the get go, and to avoid having to bolt on disparate technologies down the road, emerging industry trends and success stories suggest marketers need a neutral technology service provider that can provide each of these solutions via a single, unified platform. A vendor that can build a solid identity management foundation comprised of omni-channel targeting and attribution, cross-device resolution, online-offline linkage management, and data onboarding form the nexus of a cohesive identity strategy, built to last.    Experian helps connect consumer identity   As a trusted name in data and information services for more than 40 years, we are committed to privacy by design and the responsible usage and security of data. Whether you’re a brand, agency, or publisher, Experian has the wide-ranging toolset to help you put people at the heart of your business and make better marketing decisions. By harnessing the power of the sum of these parts, fusing both offline and online identifiers and attributes, Experian has established a leadership position in identity management. If you're ready to begin building your identity foundation, contact us and get started today!  Learn more about why identity matters to marketers and consumers, here!